
NEW YORK (Reuters) - Stocks fell on Thursday, with the S&P 500 poised for a fifth straight day of declines as already nervous investors were greeted by a round of weak domestic economic data while the euro zone remained turbulent. Both the S&P and the Nasdaq fell as much as 1 percent, with the Nasdaq's losses wider as large-cap tech shares fell. A gauge of future U.S. economic activity fell in April for the first time in seven months and the Philadelphia Fed business conditions index hit its lowest since September. ...
NEW YORK/SAN FRANCISCO (Reuters) - Facebook Inc is expected to price its initial public offering on Thursday to raise more than $16 billion, as strong demand, particularly from retail investors, fuels anticipation of a big pop in the stock when it begins trading Friday on the Nasdaq. Predictions on how much the stock will rise on the first day of trading vary greatly, with some experts saying anything short of a 50 percent jump would be disappointing given the hype over what would be the third-largest initial share sale in U.S. history, after ones by Visa Inc and General Motors Co. ...
WASHINGTON (Reuters) - JPMorgan Chase & Co Chief Executive Jamie Dimon will be invited to testify before Congress over the recent trading losses announced by the bank, U.S. Senate Banking Committee Chairman Tim Johnson said in a statement on Thursday. Johnson did not say on what date the committee wants Dimon to appear but said it would be following a set of hearings that will conclude on June 6. The committee will hold hearings with regulators on May 22 and June 6 to discuss reforms required by the 2010 Dodd-Frank financial oversight law. ...